Recently, Lokesh Payik, Partner, Bain & Company and Sangeeta Gupta, Sr VP & Chief Strategy Officer, Nasscom that published the report; India @2047: Transforming India into a Tech-Driven Economy- A strategic technology roadmap to achieve India’s Viksit Bharat ambition!
They said, India stands at a crucial turning point. With its vast potential, it is poised to emerge as a developed economy by 2047. This report outlines a strategic roadmap to achieve this goal. Based on insights powered by data and vast experience, it illustrates how India can potentially transform into a high-income country with a projected GDP of $23–$35 trillion, utilizing its demographic dividend, technological innovation, and sectoral transformations.
Realizing this potential requires sustained annual growth of 8%–10% and supported by sectoral transformation, technological advancements, and workforce readiness; India may need to undergo a fundamental transition, from a net importer to a globally competitive, export-driven, robust economy.
This report identifies five key sectors—electronics, energy, chemicals, automotive, and services—as vital growth drivers, due to their alignment with global trends and scalability. They have the potential to tackle India’s unique challenges and accelerate overall economic growth.
Nevertheless, this journey also carries challenges. Infrastructure deficits should be addressed alongside bridging the urban-rural digital divide that impacts rural households, with nearly 70% of the required urban infrastructure yet to be built.
Additionally, India would require an estimated overall investment of around $3 trillion to meet its climate goals, including the goal of net-zero emissions.
To tackle such roadblocks, India may prioritize work on forging and building international relationships, increasing investments in R&D, and adopting advanced technologies such as artificial intelligence, quantum computing and green energy.
This report aims to achieve a vision which is also an appeal to policymakers, industry leaders, and citizens to collaborate towards a shared future of growth, sustainability, and inclusivity. This document acts as a guiding beacon, illuminating the path to a Viksit Bharat where innovation, resilience, and inclusivity intersect to take India to its just position on the global stage by 2047.
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